CMISL and EDB to propel marine and offshore sector to new heights

Chamber of Marine Industries Chairman Indhra Kaushal Rajapaksa (left) with Export Development Board Chairman Mangala Wijesinghe

The Chamber of Marine Industries of Sri Lanka (CMISL), in collaboration with the Export Development Board (EDB), has unveiled a transformative roadmap to position the Marine and Offshore Engineering sector as a cornerstone of Sri Lanka’s foreign exchange growth. Through a strategic combination of short, medium, and long-term initiatives, this partnership aims to unlock the nation’s untapped potential, leveraging its unique geographical advantages to compete on the global stage.

EDB’s leadership in reviving offshore development at Trincomalee

The Export Development Board (EDB) has taken a proactive leadership role in advancing offshore development at Trincomalee Port, recognising its immense potential to attract foreign direct investment (FDI) and drive marine and offshore revenue. A feasibility study (FS) conducted by the Sri Lanka Ports Authority (SLPA) has already confirmed Trincomalee’s capability to serve as a key offshore hub for vessel lay-ups, oil and gas services, and ship repairs.

The critical next step is reviving the Cabinet Paper prepared several months ago, which will pave the way for issuing Request for Proposals (RFPs) to attract global investors. The EDB has stepped up to lead this revival process, ensuring that momentum is not lost. This commitment marks a significant stride toward positioning Sri Lanka as a preferred destination for offshore services in the Indian Ocean.

Immediate actions: Generating short-term momentum and gains

To address bottlenecks and create short-term revenue opportunities, CMISL and EDB have prioritised the following actions:

• Development of supportive policies :

Business-friendly policies and streamlined regulatory processes are being developed in consultation with key industry stakeholders to attract international investments and partnerships in the marine and offshore sector.

• Industry-academia collaboration :

Collaborations between industry players and academic institutions will foster practical training and research opportunities, enhancing the skill set of the workforce.

• Strategic partnerships and international collaboration :

Engaging diplomatic channels to promote Sri Lanka’s capabilities and connect with global markets is a priority.

• Upgrade key port facilities :

Focus is on quick upgrades to essential facilities at key ports like Trincomalee, Colombo, and Galle. Improvements include docking facilities, cargo handling equipment, floating barges, and efficient customs processes.

These proposals have been presented through cabinet papers, with CMISL actively driving their implementation.

Medium-term actions: Capacity building and promotion

The collaboration focuses on expanding capacity and building global awareness to sustain growth:

• Feasibility studies for lay-up facilities:

With SLPA’s feasibility studies already completed, the focus is now on reviving the project and fast-tracking investor engagement to enhance lay-up capacity at Trincomalee.

• Educational collaboration and workforce development :

Partnering with international universities, such as those in Norway, to update engineering and technology curriculums in Sri Lankan universities will help create a globally competitive workforce. Additionally, deploying young graduates as industrial interns in oil and gas fields abroad is expected to generate $ 15 million annually in remittances.

• Global promotion campaigns:

Developing promotional materials to highlight Sri Lanka’s marine capabilities will attract foreign investors and businesses, further strengthening the sector.

Long-term vision: Transforming Trincomalee into a global offshore hub

At the core of the long-term strategy is the transformation of Trincomalee Port into a global nucleus for Marine and Offshore Engineering. Key initiatives include:

• Mega Shipyard development :

Converting Trincomalee into a hub for Engineering, Procurement, and Construction (EPC) contracts for Oil and Gas and Offshore Projects Industries.

• Offshore energy and resource extraction :

Promoting wind, solar, wave energy, and mineral resource development projects will diversify revenue streams.

• Port City Colombo as a marine excellence hub :

Positioning Port City Colombo as a centre for design, digital outsourcing, and back-office functions of global offshore investors will further enhance Sri Lanka’s appeal.

• Infrastructure expansion :

Developing berthing and mooring facilities, bonded warehouses, and dual-use fisheries harbors as mini-marinas will support both tourism and offshore servicing.

CMISL’s five-year plan: Aligning goals with action

CMISL’s 2025-2029 Strategic Plan complements the Government’s vision by focusing on actionable goals aligned with the Marine and Offshore sector’s growth potential:

• Nautical tourism and harbour development:

Converting fishing harbours into dual-use marinas and promoting boating activities will enhance revenue generation.

• Trincomalee as a flagship offshore hub:

Spearheading the development of Trincomalee for offshore construction and services will attract substantial FDI and boost the economy.

• Streamlined regulations :

CMISL continues to advocate for reduced red tape and improved ease of doing business, ensuring a favourable investment environment.

• Slipways and testing facilities :

Establishing essential infrastructure like slipways and ship lifts will support local boat builders and attract international clients.

A collaborative path forward

The partnership between CMISL and EDB demonstrates how strategic collaboration can transform Sri Lanka into a global maritime and offshore powerhouse. Immediate actions and long-term investments are expected to generate $ 5 billion in FDI, substantial export proceeds, and increased remittance income over the next decade.

EDB’s leadership in initiating the revival of offshore development at Trincomalee is a pivotal step in this journey. With the feasibility study completed by SLPA and a cabinet paper ready, the focus must now shift to securing approvals and attracting investors through a well-structured RFP process.

This joint effort aligns seamlessly with the Government’s vision while creating a sustainable roadmap for Sri Lanka’s economic revival. Together, CMISL and EDB are steering the country’s Marine and Offshore sector toward a future of growth, resilience, and global recognition.

Conclusion

Sri Lanka’s journey toward maritime excellence has begun — fuelled by collaboration, innovation, and ambition. By capitalising on its strategic location and untapped resources, the nation is poised to emerge as a leader in the global marine and offshore industries. With CMISL and EDB at the helm, Sri Lanka is charting a course toward unprecedented economic prosperity and international acclaim.